Saving for retirement is an often talked about, and often feared, fact of life that generates a lot of questions. How much should I save away? When should I start saving? According to the U.S. Department of Labor, to maintain the same standard of living as you do now, you will need to replace between 70%-90% of your pre-retirement income. However, in today’s economy, many investors are asking a whole other sort of question: Is there a safe way to invest for retirement? One option is a fixed annuity.

What is fixed annuity?A fixed annuity allows you to set aside money to grow on a tax-deferred basis for your future use. When you are ready to retire or convert the value of your annuity into a regular income stream through a fixed annuity.

What is liquidity?A fixed annuity is not like a checking account. As with all retirement options, an annuity is a long-term retirement vehicle and usually means that you will not need the money for an extended period of time. There are surrender charges if you take your money out before a certain period of time. However, many fixed annuities may allow you to take a 10 percent of your money without of your money without being charged for it.

If you have more questions or would like to learn more about your retirement options, please contact me and we'll come up with a plan on how to handle your retirement finances.